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The E-Sylum:  Volume 8, Number 25, June 19, 2005, Article 10

MASSIVE COUNTERFEITING SCHEME FOILED

A recent article by Reuters describes a huge counterfeiting
operation shut down in the U.K in 2002, and back in the
news now as the leaders were convicted of the crime:

"Four Britons were jailed on Monday for their role in a huge
counterfeiting operation that police said was so significant it
could have posed a threat to the economies of the United
States and Britain, the BBC said.

The gang printed more than 2.5 million pounds of fake 10
pound notes and $3.5 million of counterfeit U.S. notes in
what police believe was the largest scam of its kind in
Britain, the BBC reported.

"The potential for this operation to undermine the economy
of the United Kingdom and the economy of the United States
was very significant," said Detective Superintendent Nick
Lewis of Britain's National Crime Squad (NCS).

"These were good quality bank notes, good quality travellers
cheques which could have had a very significant undermining
effect on those economies."

"We were taken aback by the scale of the printing machinery
and by the amount of actual counterfeit currency we recovered
from the premises," Lewis told the BBC."

To read the full article: Full Story

Asylum Editor Tom Fort forwarded another article, this
one from The Scotsman:

"A gang who ran what police believe was Britain's biggest-ever
counterfeit currency scam were jailed yesterday.

The seven-strong gang had operated for more than two years
after setting up a factory to print up to 10 million worth of fake
10 notes and $100 bills.

The operation spanned the world, and the investigation to hunt
the gang down involved the United States Secret Service."

"The gang printed thousands of false 10 notes, selling them in
bulk for 80p per note, and $100 bills for 6, the Crown Court
in Manchester heard.

Bank of England experts said the sterling fakes were "very good"
quality and the dollars "excellent".

"Officers found 1,685,930 in fake 10 notes, $3,377,300 in
fake $100 notes and reels and hologram images capable of
producing $3,539,400 in travellers' cheques. More cash
produced by the gang was recovered after being circulated.
The totals seized and recovered are 2,555,600 and $3,660,600.
With the $3.5 million in US travellers' cheques, the final potential
counterfeit haul is worth more than 6.5 million.

National Crime Squad officers say they believe it to be the biggest
fake cash scam in UK history.

To read the full article: Full Story

  Wayne Homren, Editor

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